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U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit
Last Post 10/29/2010 03:02 AM by wxhwxh. 3 Replies.
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chb7777User is Offline
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11/25/2008 06:36 PM  
U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit
 
 
Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
 
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Most of the spending programs are run out of the New York Fed, whose president, :S:d1" target="_blank" rel="nofollow">Timothy Geithner, is said to be President- elect :S:d1" target="_blank" rel="nofollow">Barack Obama’s choice to be Treasury Secretary.  

The money that’s been pledged is equivalent to $24,000 for every man, woman and child in the country. It’s nine times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office figures.

It could pay off more than half the country’s mortgages.

 

HawkUser is Offline
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11/26/2008 05:34 PM  
When you inject this much money into the economy there will be massive inflation and your dollar will be worth spit in a about a year or less.

The markets, like real estate, gold, silver, oil and stocks are artificially being bottomed out so these banker crooks can buy up all the real American wealth with this bailout money. They will then crash the real American economy and use the bailout money to establish the new global financial order. That is the reality, America is being destroyed by design and the dull witted Americans are clueless as to what is really happening. Sad.
Everything I am, is wrapped up on the fact that I was born a freeman, and if I am ever to allow government the opportunity to take away these freedoms than everything I am goes with it.
zhxiaUser is Offline
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07/23/2010 10:16 AM  
Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.
wxhwxhUser is Offline
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10/29/2010 03:02 AM  

 

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